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Why Nikola Stock Blew Up Today

TheMotleyFool

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Shares of electric-truck start-up Nikola (NASDAQ: NKLA) were down sharply on Monday, following the overnight departure of founder Trevor Milton amid allegations that he misled investors.

As of 3:00 p.m. EDT, Nikola's shares were trading down about 17.8% from Friday's closing price.

Nikola's stock -- and Milton -- have been under heavy pressure since Sept. 10, when short-selling firm Hindenburg Research released a scathing report alleging that the company (and specifically, Milton) had misled investors about the state of its technology and business for years.

Source Fool.com

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